American Eagle Outfitters (NYSE:AEO) Stock Price Down 2% on Analyst Downgrade

American Eagle Outfitters, Inc. (NYSE:AEO)’s share price was down 2% during trading on Friday after Bank of America lowered their price target on the stock from $18.00 to $13.00. Bank of America currently has a neutral rating on the stock. American Eagle Outfitters traded as low as $10.79 and last traded at $10.77. Approximately 1,721,860 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 4,628,719 shares. The stock had previously closed at $10.98.

Several other research firms have also recently commented on AEO. BMO Capital Markets restated a “market perform” rating and set a $15.00 price target (down from $19.00) on shares of American Eagle Outfitters in a report on Tuesday. UBS Group decreased their target price on shares of American Eagle Outfitters from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday. Raymond James started coverage on shares of American Eagle Outfitters in a research note on Friday, December 13th. They issued a “market perform” rating on the stock. Citigroup set a $13.00 price objective on American Eagle Outfitters and gave the company a “neutral” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. dropped their price target on shares of American Eagle Outfitters from $19.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $16.00.

Insider Activity

In other news, Director Cary D. Mcmillan sold 2,999 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $16.02, for a total transaction of $48,043.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of American Eagle Outfitters during the fourth quarter valued at $4,891,000. Brucke Financial Inc. bought a new stake in American Eagle Outfitters during the 4th quarter worth about $256,000. ABLE Financial Group LLC lifted its position in American Eagle Outfitters by 7.0% during the 4th quarter. ABLE Financial Group LLC now owns 24,221 shares of the apparel retailer’s stock valued at $404,000 after purchasing an additional 1,587 shares during the period. Mackenzie Financial Corp boosted its stake in shares of American Eagle Outfitters by 46.8% in the 4th quarter. Mackenzie Financial Corp now owns 16,703 shares of the apparel retailer’s stock valued at $278,000 after purchasing an additional 5,323 shares during the last quarter. Finally, CTC Alternative Strategies Ltd. acquired a new stake in shares of American Eagle Outfitters during the 4th quarter worth approximately $175,000. 97.33% of the stock is currently owned by institutional investors.

American Eagle Outfitters Stock Performance

The firm’s 50-day moving average price is $15.01 and its 200 day moving average price is $17.78. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.82 and a beta of 1.57.

American Eagle Outfitters Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.63%. American Eagle Outfitters’s dividend payout ratio (DPR) is currently 42.74%.

American Eagle Outfitters Company Profile

American Eagle Outfitters, Inc operates as a multi-brand specialty retailer in the United States and internationally. The company provides jeans, apparel and accessories, and personal care products for women and men under the American Eagle brand; and intimates, apparel, activewear, and swim collections under the Aerie and OFFLINE by Aerie brands.